Credit cards create:
A. financial liabilities for the issuer once they are used by the holder.
B. money for those who use them.
C. financial liabilities for those who use them.
D. money for those who issue them.
Answer: C
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An increase in taxes on labor earnings, everything else equal
a. shifts the labor supply curve to the left and increases the real wage. b. shifts the labor supply curve to the right and increases the real wage. c. shifts the labor supply curve to the right and reduces the real wage. d. shifts the labor supply curve to the left and reduces the real wage.
Real wages fall if prices increase more than nominal wages
Indicate whether the statement is true or false
The time it takes the Fed to formulate a policy is referred to as:
A. the inside lag for monetary policy. B. the inside lag for fiscal policy. C. the outside lag for monetary policy. D. the outside lag for fiscal policy.
Which of the following countries experienced the lowest level of output per capita in 2011?
A) United States B) France C) Japan D) United Kingdom